Relay Therapeutics Receives Notice Of Termination From Genentech For Collaboration And License Agreement; Relay Received $121.8M From Genentech, Including $75M Upfront And $45M In Milestones
Portfolio Pulse from Benzinga Newsdesk
Relay Therapeutics has received a notice of termination from Genentech for their collaboration and license agreement. Relay had received $121.8M from Genentech, including $75M upfront and $45M in milestones. The agreement, which involved the development of Migoprotafib (GDC-1971), will be terminated in 180 days with no further payments or obligations after the termination date.
July 16, 2024 | 8:19 pm
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Relay Therapeutics has received a termination notice from Genentech for their collaboration and license agreement. The termination will be effective in 180 days, and no further payments or obligations will be made after the termination date.
The termination of the collaboration and license agreement with Genentech is likely to have a negative short-term impact on Relay Therapeutics' stock price. The company had received significant funding from Genentech, and the termination means no further payments or obligations, which could affect their financial outlook and investor sentiment.
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